HMRC Grabbing Dividend Tax Earlier

[AtW]

Reposting from another thread in the serious part of the forum...

"Many contractors are currently receiving their PAYE coding notices for the next tax year and seeing their code numbers radically reduced as HMRC seek to collect tax due on dividends for 2016/17. This means that they will have far less personal allowance to use against their salaries and therefore will pay more PAYE tax on this income."

More from the source: HMRC Grabbing Dividend Tax Earlier - Contractor Weekly

But cheer up, as Waldork would say - it would have been worse under Labour!

[MarillionFan]

They're absolutely fricking useless HMRC.

Last year I paid in a whopping 140K into my private pension using up all of my pension allowance for that year and previous years where I had not saved enough.

To do that I had to pay in a good chunk and then got 25% back in tax on my self assessment. My SA went in on the first available day and it took about 4 months to get the money back.

Later last year they changed my tax code so I could earn 78k tax free and through my PAYE they've paid it back again. I shall of course file my SA as late as physically possible so it's all iny favour

This week I got my new tax allowance. 83k Tax free, again based on last years pension contribution. Baring in mind George has also vowed to scrap higher rate tax relief, it shows HMRC do not have a ******* clue. But again, thanks for the massive tax free loan Hector

[AtW]

Last year I paid in a whopping 140K into my private pension

Mug.

[MarillionFan]

Mug.

45% tax relief. You'd have to mathematically stupid not to do it, considering it's tax free at the other end.

[DimPrawn]

Move to a tax haven.

Job done, sorted.

[jamesbrown]

considering it's tax free at the other end

Gidiot says hi.

[vetran]

Gidiot says thanks, not for long muppet.

FTFY

[AtW]

45% tax relief. You'd have to mathematically stupid not to do it, considering it's tax free at the other end.

It's tax free now, my little furry friend, but it won't be by the time you retire (in 15-18 years?).

When (or if) you reach your retirement age you'll find out that your pension pot is getting hair cut and you are getting a heart attack ...

[MarillionFan]

It's tax free now, my little furry friend, but it won't be by the time you retire (in 15-18 years?).

When (or if) you reach your retirement age you'll find out that your pension pot is getting hair cut and you are getting a heart attack ...

Well, it makes sense until Gidiot scraps the tax relief at the front end, then tries to **** you at the back end. Basically ******* you both ways.


Mmmm. I think I've seen some pron clips on t'internet about that, but not normally from a small dicked white Etonian

[jamesbrown]

About that 1m lifetime allowance.

Snip.

Snip.